Didi Chuxing Has Invested Millions In A Chinese Bike Sharing Platform

Ride sharing has been quickly getting popular in more than and more countries of the world. And China's largest ride hailing company, Didi Chuxing, is all ready to become into another form of this concept. The ride sharing giant is now eyeing wheel sharing and has already fabricated an investment. The investment was in a young startup called Ofo which basically allows people to infringe bikes on demand. Bike sharing may be the next big thing when it comes to crowded places and will be more preferred by college students who are e'er looking for a cheaper medium of ship.

Didi is diversifying itself into other ride sharing concepts

Ofo was a very ambitious startup that was started around 2 years ago equally office of a startup plan at Peking University of Beijing. Ofo claims that it has a vast area covered with around seventy,000 bikes that cover 20 cities all beyond China. There are more than 1.5 million registered users of Ofo and the average frequency of rides is around 500,000 per twenty-four hours. This is a groovy startup for students as they are the ones using bicycles mostly; Beijing alone has more than 9 million bicycles and this is a great way to both travel and keep themselves in shape for many people.

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Mum's the give-and-take from both firms about how much the investment is and how much equity Didi got in render. But according to some reports the investment is around 'tens of millions of dollars' in size. Ofo had raised $4 million in investment funds before this month merely we notwithstanding don't have any news whether Didi's supposed millions of dollars of investment is part of this capital or is in addition to this. Didi did phone call the bargain a role of "a multi-layered partnership".

Since there's not a lot of information available right now all we can do is speculate. If Didi is really serious in Ofo then they could actually give the company a part inside their app which volition help them really increment their own customer base besides. If Didi chooses to get into other services like Uber and so it could also beginning using the cycle sharing services and take it to some other level such every bit arranging a whole delivery organization using bikes which will be inexpensive and effective beyond Chinese cities.

Information technology's good for a visitor to diversify and get into new niches and it seems Didi is right on rail. Nosotros will keep y'all updated about whatever news that surfaces about this investment, from any of the two firms. Till then let us know what you think almost bike sharing as a concept in the comments below.

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